Renters insurance is a type of insurance policy that protects individuals who rent their homes. It covers personal belongings, such as furniture and electronics, against risks like theft, fire, or water damage. This insurance can also provide liability coverage if someone is injured in the rented space. Having renters insurance is often a requirement by landlords, and it can be relatively affordable. Policies typically offer different levels of coverage, allowing renters to choose a plan that fits their needs and budget. Overall, it provides peace of mind by safeguarding personal property and financial responsibility.